Is 55063, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55063 was a Seller's Market.
Key Takeaway
55063 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55063, MN
How much do homes in 55063, MN cost?
Median Sold Price
$285,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55063 have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in 55063 was $285,000 in March 2024, up 8.2% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $140K | -15.2% |
| 2 Bedrooms | $202.5K | $261.3K | +29.1% |
| 3 Bedrooms | $279.9K | $280K | 0.0% |
| 4 Bedrooms | $278K | $362.1K | +30.3% |
| 5+ Bedrooms | $385K | $412.5K | +7.1% |
Summary: 55063 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.2%, 2 bedroom homes increased by 29.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in 55063, MN
How many homes are available in 55063, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 50 | +47.1% |
Summary: The 55063 real estate market had 50 homes for sale in March 2024, a 47.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 6 | 12 | +100.0% |
| 3 Bedrooms | 16 | 23 | +43.8% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55063 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 43.8%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55063, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 55063 in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 55063, MN
How long does it take to sell a home in 55063, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 46 Days | -17.0% |
Summary: Homes in 55063 had an average of 46 days on market in Mar 2024, down by 17% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55063 has remained consistent over time.
Summary: During March 2024, 4 homes were sold in 55063; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
